Class Valuation

[Alsie35]

I find generally anyone who 55+ working as an appraiser are almost always in the end-of-the-world mindset, my dad included.

I would occasionally lurk onto the AF when I was researching something, from 2010-2020 (when I finally joined). It was the same back then. End-of-the-world posts ad nauseaum.

Funny thing is, one of these days someone will be right. And he'll then consider himself to be a "prophet" ...

Thing is - what I described is the GRIFT of every investment advisor and economic prognosticator out there. Ten thousand, all making different predictions. One of them gets it right - BY PURE CHANCE - and proclaims himself to be the new Nostradamus (which, technically, he then IS - but only because Nostradamus had the SAME grift!)

 

[RustyTapeMeasure]

I worked two years to get this license and walking away from it after 4 years seems stupid and lazy.

I am glad you are not the field general determining how we march forward or not.

I find generally anyone who 55+ working as an appraiser are almost always in the end-of-the-world mindset, my dad included.

I don't agree so good luck in your future lucrative and rewarding appraisal career. You certainly know what is best for you. Regardless of what you hear or see, keep up that march to back up your 2 years spent getting the license because it will look to you as your being lazy or stupid. 20 years ago I was not 58 and knew plenty of 55+ appraisers that your blanket generalizes about now and NONE had the opinion of appraising at that time that those of us do now. Maybe there is validity to 55+opinions of the appraisal profession now, it not just being a boom and bust cycle of past that will return to fruitful days at some point. Hybrids, waivers, PAREA, etc etc will have no impact on your appraisal volume. /s

 

[glenn walker]

He wants to take over his dad's legacy ?

 

[Alsie35]

I find generally anyone who 55+ working as an appraiser are almost always in the end-of-the-world mindset, my dad included.

Given the negativity of other posters, I thought I'd chime in again on your original point.

There is no doubt that the appraising job is changing. How much and how soon - we shall see. It's for sure that the work patterns of those of us who built a business going out on inspection and doing it all will change - and at the very least - look different in the future.

Do I like it? Hell no. I built a "better mousetrap" that's made me a boatload of success over the past 16 years. I'd have to be crazy to like change "just for the sake of change" at this point.

Will I adapt? Probably - we'll see what the new "UAD 3.6" thing is all about. Depends on how much extra time per job it requires - and at what fees.

At some point, if the returns are too diminishing - I'll walk. All it would mean for us would be spending some of the $$$ we saved instead of giving it all to our kids someday. (Did I mention we've had a boatload of success with this gig?)

But here's the real point I am getting to: whatever that new appraising world looks like, or how successful you become in it - you will probably never have the opportunity to have the kind of success that some of us have had. Maybe I'm wrong. I hope so, for the sake of the younger generations. Because the loss of that opportunity will be what really sucks.

I could be wrong - and software geniuses a couple of generations younger than I will figure out a way to leverage the new appraising business to make a really good living. Who knows? Its happened before, that's for sure.

But with the way that Fannie is now slowly ensuring that each job will be "piece-mealed-out" in the future - I somehow doubt it.

I really hope I'm wrong about all this, and that being of a certain age with tech limitations simply prevents me from "peeking over the horizon".

But either way - good luck to you. With a good work ethic and ability/willingness to learn - you'll succeed in some career if not this one. I know because I DID. In law, in the military, and in this improbable field. Just take the opportunities as they arise and DON'T BE TIMID.

It's just that once you get past 60 ... you kinda are looking for the station to get off on, to enjoy life a bit more. So that's all that's behind the sentiments you've been reading on here, just expressed with perhaps a little more thought - I hope.

 

[Dale Floyd]

I was among the youngest in TN to become a licensed appraiser back in the day, I think the average age of an appraiser back then was in the 50’s and the majority were very negative and critical of the industry.

Now, I’m in my later 50’s and I’m told the average age of appraisers is still in the 50’s and most I know are very negative and critical of the industry.

If the sky had fallen as many times as our peers have predicted, we’d be in soup lines today. I suppose it’s the nature of an analyst to see the negative much more clearly than anything positive. I only know of a handful of exceptions.